Unemployment now (or soon) at 4.4% ??
As of tomorrow, 12/28, Long-Term Unemployment (up to 99 weeks in many cases) becomes a thing of the past. Here's what I have yet to have someone explain to me (any takers, please??) . . .
If our Unemployment rate is currently 7.0%, and the Long-Term Unemployment (included in the 7.0%) is 2.6%, then our Unemployment rate drops to 4.4%, right?
I can't imagine that the Long-Term Unemployment was never included in the 7.0%, and they drop off tomorrow. Won't that bring euphoria (dare I say, exuberance) to the markets?!?